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City of Gladbrook-City of Gladbrook Audit Report

October 18, 2018
Northern-Sun Print
Bowman and Miller, P.C. announced today released an audit report on the City of Gladbrook, Iowa. The City’s receipts totaled $1,756,967 for the year ended June 30, 2018, a 22 percent decrease from 2017. The receipts included $318,958 in property tax, $55,380 in local option sales tax, $596,982 from charges for services, $264,810 from operating grants, contributions, and restricted interest, $288,719 from capital grants, contributions, and restricted interest, $56 in unrestricted investment earnings, $203,779 in note proceeds and $28,283 from other general receipts. Disbursements for the year totaled $1,466,569 a 47 percent decrease from the prior year, and included $323,657 for public safety, $139,435 for public works and $102,154 for general government. Also, disbursements for business type activities totaled $727,307. The significant decrease in receipts and disbursements is primarily due to the completion of a bridge project and sewer system upgrade project. The receipts and disbursements for these projects were reflected in the prior year financial statements. A copy of the audit report is available for review in the City Clerk’s office, the Office of Auditor of State, and on the Auditor of State’s website at http://auditor.iowa.gov/reports/reports.htm.
 
 

 

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